The impact of AI: productivity gains, cost reductions and quality improvements.
Much like previous technological leaps, AI sparks both wonder and worry. Some forecast apocalyptic outcomes; others foresee a prospect-filled gold rush. Finding a balanced perspective amid these polarized viewpoints is crucial to developing a sound understanding of AI's capabilities and ultimately successful adoption of AI.
The Impact Triad
Multiple studies indicate that AI has the potential to bring about benefits for businesses and individuals, with productivity gains, cost reductions, and quality improvements being the three main areas of focus. Even if AI delivers on just one of these promises, its impact can be significant. However, fully realising all three areas will undoubtedly be a game-changer for any organization.
Professionals using AI in writing tasks complete their tasks faster (up to 37%), using significantly less time (Noy, S., & Zhang, W. 2023).
Productivity Gains
Knowledge Workers using AI perform better in all areas, including speed, but also quality and quantity of output (Dell’Acqua et al., 2023).
Quality Improvements
Early indications from a large panel of companies suggest that up to 10% cost reductions are feasible (BCG, 2024).
Cost Reductions
In my role as your strategic advisor, I am committed to providing you and your team with a balanced and unbiased perspective on artificial intelligence. My goal is to empower you to evaluate and leverage the benefits of AI in your day-to-day operations and decision-making processes. Together, we can explore the potential of this cutting-edge technology and develop strategies that maximize its impact on your business.
The versatility of AI poses a challenge when deciding on the most impactful adoption path.
Research confirms that when armed with tools, individuals creatively modify them to enhance their work efficiency. Thus, businesses that champion AI adoption within their teams, regardless of their technical expertise, tap into this ingenious adaptation capability and strengthen their competitive edge.
Classic Approach
Primarily focused on large-scale projects (e.g. building your own LLM with dedicated company know-how).
Requires substantial resources and investments, including development and new infrastructure.
Usually centralised and within the responsibility of IT or Digital.
Takes at least 6 months to reap the first benefits in terms of performance, costs and quality.
In many cases, requires leaders to wait because of internal or external dependencies.
Approach
Uses case scenarios based on readily available tools (LLMs), therefore accessible to everyone.
Leverages coworker knowledge and skills and equips individuals and teams to embrace an AI mindset.
Quick turnaround based on tangible scenarios, feasibility, prototyping and real-time testing.
Achieving better performance, cost, and quality in less than 2-3 weeks is possible.
It enables you as a leader to act NOW because use case scenario depend solely on your day-to-day tasks.
The large-scale deployment of AI into company operations undoubtedly brings significant benefits. Yet, it's the subtle integration of AI into daily tasks and team processes that often gets overlooked. By merging AI with the existing expertise and specialized knowledge of your team, a vertical integration strategy can unlock endless possibilities for improvement - allowing you to reap the benefits within weeks instead of months.
To successfully adopt AI, it is essential to prioritize people's needs and concerns.
The potential of AI can only be fully harnessed if we are able to cater to the practical as well as psychological needs of humans. Although AI offers endless opportunities for innovation and creativity, it also affects how people perceive their roles, jobs and identities. This can cause individuals to worry about losing their control, familiarity or expertise.
Psychological Awareness Throughout the AI Adoption Journey | Understanding the different stages individuals experience in adopting AI and how to manage resistance or discouragement allows for a much smoother adoption process across organisations.
As your ally in change management, I examine how AI reshapes your team's work and dynamics. With thoughtful and hands-on guidance, I transform resistance into a catalyst, allowing coworkers to embrace an AI-informed workplace.
Take the first step towards creating an AI-informed workplace and get in touch.
My mission is clear — ensure AI's relevance and impact are apparent for you from the onset, sparking a transformative excitement. I provide practical experiences through workshops, change management and inspiration that make the concept understandable, applicable and manageable for anyone.